Sonic Healthcare (SHL) – To acquire Aurora Diagnostics for $750m. SHL has announced a fully underwritten institutional placement to raise $600m and a non-underwritten share purchase plan (SSP) to retail shareholders to raise up to $100m. The issue price for the underwritten placement represents an 8.8% discount to the last closing price of 2139c. The acquisition is expected to be 3% EPS accretive post placement on a pro-forma FY2019 basis.

Trade Me (TME) +4.64% Enters into scheme implementation agreement with Apax Partners, at NZ$6.45 per share. Agreement is subject to an Independent report determining that NZ$6.45 per share is within or above its valuation range. In the absence of a superior proposal, the Trade Me board unanimously recommends that shareholders vote in favour of the scheme.

Brambles (BXB) –0.30% ASIC is investigating a block trade that was done in Brambles, by UBS, as per the AFR. The article claims that sources have claimed that ASIC is investigating for front-running, in the trade completed in May 2018. It is reportedly quite common for ASIC to look into large share sales.

Helloworld (HLO) +1.69% Reaffirms full-year guidance at investor day presentation, EBITDA is expected to be between $76 and $80m.

Westpac (WBC) +1.64% Chair Lindsay Maxsted said the bank expects to receive its first strike as more than 50% of shareholders vote against remuneration report.

ECONOMIC NEWS

Consumer confidence improves slightly. The Melbourne Institute and Westpac Bank Consumer Sentiment Index moved up 0.1% to 104.4 in December from 104.3 in the previous month.

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions fell 1.0% in trend terms, while the seasonally adjusted series rose 3.5%.

HEALTH DATA

The typical Australian is a non-smoker and has never smoked, does 42 minutes of exercise every day, is overweight or obese and does not eat enough vegetables.

The typical Australian male weighed 87kg and stood 175cm tall and was therefore overweight while the typical female weighed 72kg and was 161cm tall and was also overweight.

79% of Australians consumed alcohol in the last year, we did so at safe levels.

47% of Australians had at least one chronic health condition.

Around 4.8m Australians (20%) had a mental or behavioural condition in 2017-18 up from 4m (17.5%) in 2014-15.

BOND MARKETS

2-Year bonds unchanged to yield 1.94%

5-Year yields down 1bps to yield 2.04%

10-Year yields down 1bps to yield 2.44%

ASIAN MARKETS

China has arrested a former Canadian diplomat. Have boycotted Justin Bieber songs too. It’s getting real.

EUROPEAN AND US HEADLINES

Trump is willing to intervene in Huawei CFO case. Not a surprise given his ‘pragmatic’ approach to Saudi Arabia.

Will the UK Tory party have the 48 letters calling for leadership change? The ‘omnishambles’ continues.

UK wage rises are at highest pace in a decade on record employment numbers. EU citizens streaming out.

Macron has turned into Santa Claus this Xmas after weeks of protests. Trouble is that Macron’s plan could push France to 3.5% deficit to GDP, according to initial estimates.He has proposed a 100-euro ($114) a month hike in the minimum wage and abolishing a tax on pensions. Italy doesn’t look so bad now.

And finally……………

Crime in multi-storey car parks. That is wrong on so many different levels

My Dad said, always leave them wanting more. Ironically, that’s how he lost his job in disaster relief

As a kid I was made to walk the plank. We couldn’t afford a dog

When I was little my mother used to feed me alphabetti spaghetti. I didn’t realise she was putting words in my mouth.